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| Global Electrically Conductive Adhesives Market Size |
Electrically conductive adhesives find wide applications in the automotive
industry for bonding components such as battery packs, sensors, ICs, PCBs, and
more. They provide excellent electrical conductivity while also acting as
adhesives, thus eliminating the need for separate fastening methods. The
growing automotive electrification trend and stringent fuel efficiency norms
have increased the demand for smaller and more compact electronics in vehicles.
This has propelled the use of electrically conductive adhesives.
The global
Electrically Conductive Adhesives Market is estimated to be valued at US$ 3.2 billion in 2023 and is expected
to exhibit a CAGR of 6.7% over the
forecast period 2024 to 2028, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
The rising demand from the automotive industry is one of the major trends
driving the growth of the electrically conductive adhesives market. With the
increasing focus on electric and hybrid vehicles, automakers are integrating
more electronics and smaller batteries in the vehicle design. Electrically
conductive adhesives help achieve compact assembly and provide mechanical
bonding of lightweight components. They help reduce component weight and
assembly time as compared to traditional fastening methods like soldering and
welding. The lightweighting and assembly benefits provided by electrically
conductive adhesives to auto manufacturers have increased their adoption, thus
propelling the market growth over the forecast period.
Segment
Analysis
The electrically conductive adhesives market is dominated by the industrial and
electronics segment. This segment accounted for more than 50% share of the
global market in 2022 owing to the extensive usage of electrically conductive
adhesics for circuit boards assembly, LED lighting, and other industrial
applications which require electrical conductivity and mechanical strength.
Within industrial and electronics, PCB assembly sub-segment holds the largest
share as electrically conductive adhesives provide high bonding strength and
reduce risk of electric failures in circuit boards.
Key Takeaways
Global
Electrically Conductive Adhesives Market Size is expected to witness
high growth.
Regional analysis: Asia Pacific region currently dominates the global
electrically conductive adhesives market with more than 35% share and is
expected to maintain its dominance during the forecast period. Growing
electronics and semiconductor industries in countries like China, South Korea,
Taiwan and Japan is propelling the demand of electrically conductive adhesives
in the region.
Key players
operating in the electrically conductive adhesives market are Henkel, H.B.
Fuller, Dow, Panacol-Elosol, 3M, and Aremco Products. Henkel leads the global
market with its conductive adhesive brands such as Loctite.
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